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- 1 The FIL price showcased an uptrend and is trading near the $10 mark.
- 2 Bulls are trying to sustain above the $10 mark to resume the bullish wave.
The Filecoin price (FIL) delivered bullish waves and witnessed bullish momentum on the charts. Moreover, the trend is intact, and the coin has persisted in forming the higher high swings and is trading in the bullish region. Recently, the coin faced rejection from the supply region near $12 and retraced to the 50-day EMA mark. Afterward, the buyers achieved a pullback and attempted to cross the prompt hurdle of $10, followed by $11. If the upside of $12 is breached, then Filecoin has the potential to reach the upside of $15, followed by $17 soon.
At press time, the Filecoin (FIL) price was trading at $9.74 with an intraday gain of 3.66%, reflecting neutrality on the charts. It has a monthly return ratio of 26.90% and 75.10% on a yearly basis. The pair of FIL/BTC is at 0.000140 BTC, and the market cap is $5.17 Billion. Analysts are bullish and suggest that Filecoin price may retain bullish momentum and will cross the upside of $12 shortly.
Filecoin Price On Daily Charts Revealed Higher high Structure
The above chart shows the technical analysis of the FIL coin, which revealed that the Filecoin persisted in stretching the up move and prevailed in forming the higher high swings. Moreover, the coin is trading above the significant moving averages and is decisively sustaining gains in the bullish region.
The Relative Strength Index (RSI) curve stayed near the midline and showed a positive crossover on the charts.
Price Volatility and Sentiment Analysis
Per the Santiment data, the FIL price volatility remained average and showed steady movements, around 0.022, reflecting a neutral stance. Similarly, the weighted sentiment is negative, noting around -0.476.
Social Dominance and Development Activity
The above data shows the social dominance and development activity, which revealed a negative outlook. The social dominance value dropped over 15% to 0.01%, whereas the development activity value dragged over 80% to 12.26.
FIL Price To Volume Profile Outlook
Following the price pullback, significant volume buying was noted this week, and buyers are accumulating the coin and are attempting to cross the prompt hurdle of $10. The intraday trading volume jumped over 131.90% to $756.85 million, showcasing investor interest.
Per the Fibonacci retracement levels, the FIL price has sustained above the 38.2% zone and is heading toward the 50% zone.
The total supply of Filecoin is 529.90 million, and the volume-to-market cap ratio is 0.146. Filecoin stands at 27 per the market cap in the global crypto market.
Summary
The Filecoin price trades above the key moving averages and reveals buyer accumulation on the charts. Moreover, the trend is intact, and the coin may continue to spread the up move and reach $15 soon.
Technical Levels
Support Levels: $9.20 and $8.60
Resistance Levels: $10.30 and $10.80
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
